#DigitalAssetBill

In late April 2025, House Republicans introduced a new draft bill aimed at establishing a comprehensive regulatory framework for digital assets ahead of the May 6 congressional hearing. The proposed legislation builds on the foundation set by earlier bills like FIT21 but includes updates intended to clarify the responsibilities of federal agencies and provide clearer guidelines for innovators and investors in the crypto space.

The draft bill seeks to formalize the division of oversight between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). Under the proposal, the CFTC would regulate digital commodities such as Bitcoin, while the SEC would handle digital assets that resemble securities. The bill also outlines requirements for stablecoin issuers, digital asset exchanges, and custodians, including registration mandates, customer protection rules, and transparency standards.

Notably, the bill emphasizes the importance of innovation and seeks to foster a regulatory environment that does not stifle growth in blockchain and cryptocurrency technologies. It also calls for the creation of a joint advisory council composed of industry experts and regulators to provide ongoing input on implementation. As Congress prepares for the May 6 hearing, this draft sets the stage for negotiations that could shape the future of U.S. digital asset policy.